Top 10 Cybercrimes in Telangana in 2024 and their
Financial Impact
1. Investment Fraud
The investment frauds accounted for almost one-third of the total losses due to
cybercrime in Telangana during 2024. Scammers posing as agents of investments
have duped 6,316 victims, with a collective loss of Rs 611 crore. The average
loss per victim has been around Rs 9.68 lakh.
2. Part-Time Job Scams
Part-time job scams cheated Rs 490 crore from the victims. Such scams mainly
include unsolicited messages or attractive advertisements on social media
platforms which assure high returns on minimal investment1.
3. OTP Fraud
OTP (One-Time Password) frauds were another cybercrime prevalent in Telangana.
Scammers convinced the victims to share their OTPs, thus giving unauthorized
access to their bank accounts and large amounts of money were lost.
4. Fake Customer Care Scams
Scammers who presented themselves as customer care representatives reached
victims to express issues related to their bank accounts or services. They then
made way for financial losses through extracted sensitive information from the
victims.
5. Digital Arrest Scams
Digital arrest scams consisted of rogue elements alleging that victims were
involved in illegal activities and sought ransom to avoid their arrests. These
arrested situations resulted in considerable financial losses on the parts of
the victims.
6. KYC Fraud
Fraudsters claimed to be officials of the bank and asked the victims to update
their KYC details through calls or links. Victims who fell for this scam were
at the risk of losing money and being victims of identity theft.
7. Matrimonial Fraud
Matrimonial frauds included scammers creating fake profiles on matrimonial
websites to deceive people looking for partners. This type of scam usually
resulted in financial loss and emotional trauma to the victim.
8. Business Scams
Business scams attempted to scam individuals and businesses by promising
lucrative deals or a partnership. The victims would be cheated with them asking
for money transfers and sensitive information, thus financially losing them.
9. Courier Scam
Thieves contacted people saying that it was their parcel delayed at the customs
since it contained illegal products. They asked for a fine for releasing the
parcel, which led to a financial loss because the scammed individuals follow
through with what the scammer requests.
10. Crypto Scams
Crypto scams involved fraudsters posing as cryptocurrency experts or
investment advisors. Victims were lured into investing in fake cryptocurrency
schemes, resulting in significant financial losses.
Financial Impact
Cybercrimes in Telangana during 2024 aggregated to a financial loss of Rs 1,866
crore. In this regard, the Telangana Cyber Security Bureau (TGCSB) was
instrumental in tracing and refunding Rs 176.71 crore to 17,411 victims. In
addition, it froze Rs 244.56 crore involved in cybercrime activities.
Conclusion
Telangana is still vulnerable to cybercrime as cybercriminals continue raising
financial losses and sophisticated tactics in dealing with their activities.
Vigilance and robust cybersecurity measures are essential for individual and
organizational protection from falling into the hands of cybercrime culprits.
